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Retirement in a Context of Strong Institutional Uncertainty and Territorial Diversities: The Case of Italy

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Abstract

Italy’s demographic structure has changed greatly over the last 50 years: a diminishing number of workers have to support the pensions of a growing number of retirees. Therefore, several reforms aimed at reorganizing the pension system followed one another, affecting the set of opportunities available to individuals. Given the structure of the labor market, retirement decisions in Italy have been strongly differentiated by gender and from a regional point of view (center-north vs south). However, recent changes in pension policies have increased the risk of social inequalities across generations, with younger cohorts benefiting from a far less generous system, with a lower substitution rate and being forced to extend their working careers.

Keywords

  • Labor Market
  • Employment Rate
  • Early Retirement
  • Pension System
  • Pension Policy

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Fig. 5.1
Fig. 5.2

Notes

  1. 1.

    Mobility lists include particular categories of workers laid off by businesses in financial difficulties. Workers are sustained by an income support benefit and by other devices addressing the reintegration into work.

  2. 2.

    Between 1982 and 1984, Italy experienced a very sizeable employment fall in the manufacturing sector and in 1984 a boom in early retirements occurred.

  3. 3.

    The gender gap between the employment rates for older workers in Italy in the last three decades has been roughly the same as for the total working-age population.

  4. 4.

    In the last decade, the most relevant employment rate increase occurred in women aged 55–59. Indeed, in this age group, the employment rate has moved from 27.5 % in 2003 to 46.3 % in 2012, coming ever closer to younger age groups.

  5. 5.

    Ordinary mobility has a duration of 12 months for employees under 40 years of age, or 24 months for employees in firms in the south; 24 months for employees between 40 and 50 years of age, or 36 months for employees in companies in the south; 36 months for employees over 50 years of age, or 48 months for employees in companies in the south.

  6. 6.

    In 2006, the average age of people starting to receive retirement benefit in Italy was 58.1 years for men and 58.4 for women, against an average of 60.0 and 60.5 in the EU (Li Ranzi et al. 2013). Up to 2009, the legal pension age was fixed at 65 for men and 60 for women.

  7. 7.

    The strongest associations are with diseases of the nervous system, malignant tumors, arthrosis/arthritis, and myocardial infarctions.

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Bertolini, S., De Luigi, N., Giullari, B., Goglio, V., Rizza, R., Santangelo, F. (2016). Retirement in a Context of Strong Institutional Uncertainty and Territorial Diversities: The Case of Italy. In: Hofäcker, D., Hess, M., König, S. (eds) Delaying Retirement. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-56697-3_5

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  • DOI: https://doi.org/10.1057/978-1-137-56697-3_5

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